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On some neglected implications of the Fisher effect [PDF]

Empirical Economics, 2010
Following the lead of Fama [American Economic Review 65 (1975) 269–282] and of other influential articles, such as Mishkin [Journal of Monetary Economics 30 (1992) 195–215], it has become standard to interpret the Fisher effect as the ability of short-term interest rate to predict future inflation.
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Combining Term Structure and Fisher Effects

1996
In the previous chapter we investigated two four variable vector error correction models that include either the rate of inflation or a long-term nominal interest rate in addition to the three variables that appear in the equilibrium specification of the demand for real balances.
Dennis L. Hoffman, Robert H. Rasche
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The Fisher Effect: Graphical Treatment and Some Econometric Implications

The Journal of Finance, 1977
IN RECENT YEARS, various economists have presented econometric evidence measuring the influence which commodity price inflation exerts upon market interest rates. Judging from the number of papers devoted to the subject, it has become, in Friedman's words, "a dynamic growth industry." Each author has inevitably acknowledged the pioneering work of ...
Bomberger, W A, Makinen, G E
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The Fisher Effect under Deflationary Expectations

SSRN Electronic Journal, 2011
The response of nominal and real interest rates to expected deflation becomes problematic when nominal interest rates fall toward zero while the expected rate of deflation is increasing. As nominal interest rates approach their lower bound, further increases in expected deflation cannot cause the nominal rate to fall.
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Further evidence on the Fisher effect

Applied Economics, 1996
The strong form of the Fisher hypothesis states that the nominal rate of interest fully adjusts to anticipated inflation. Weaker forms of the hypothesis identify circumstances where the nominal interest rate either overadjusts or underadjusts. Previous tests of the hypothesis using Australian data and error correction techniques have found conflicting ...
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Capital Structure Theory and the Fisher Effect

Financial Review, 1989
AbstractThis paper incorporates capital structure theory to model the response of nominal interest rates to expected inflation in a world with taxes. Within an otherwise common framework, the model includes Modigliani‐Miller (MM) and Miller capital structure theory, as well as a variation of the Miller model with bankruptcy costs, developed by DeAngelo
William A. Kelly, James A. Miles
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Fisher information: uncertainty relation and steric effect

Journal of Russian Laser Research, 2011
The Fisher information has a locality property which allows one to quantify the gradient content of the quantum-mechanical states of a physical system, so grasping the distinctive oscillatory character of the corresponding wavefunctions. We discuss the uncertainty relation fulfilled by the position and momentum Fisher information for general systems ...
J. S. Dehesa, R. O. Esquivel, A. R. Plastino, P. Sanchez-Moreno   +3 more
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การทดสอบ Fisher effect : กรณีประเทศไทย

วิทยานิพนธ์ฉบับนี้มีจุดประสงค์ เพื่อทดสอบ FISHER EFFECT ในตลาดเงินไทย โดยเลือกทดสอบกับอัตราดอกเบี้ยในตลาดเงิน 4 ชนิด คือ อัตราดอกเบี้ยเงินให้กู้ยืมแก่ลูกค้าชั้นดี (MLR) ที่แท้จริง, อัตราดอกเบี้ยเงินฝากประจำ 1 ปีที่แท้จริง, อัตราดอกเบี้ยเงินฝากออมทรัพย์ที่แท้จริง และอัตราดอกเบี้ยในตลาดซื้อคืนพันธบัตรรัฐบาลที่แท้จริง การศึกษาใช้ข้อมูลอนุกรมเวลารายเด ...
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Taxes and the Fisher Effect: A Clarifying Analysis

The Journal of Finance, 1983
ABSTRACTSupply and demand functions for loanable funds are postulated for a no‐inflation economy and equilibrium levels of saving, investment, and the interest rate are specified. Certainty and nondepreciating assets are assumed. An exogenous inflation rate is imposed upon this same economy and new equilibrium values for these same variables are ...
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The Fisher effect and Australian interest rates

Applied Financial Economics, 1997
The Fisher hypothesis states that price inflation is fully reflected in nominal interest rates, implying that the underlying real rate is constant. This hypothesis is tested for Australian short and long-term interest rates using the Johansen methodology of cointegration testing, on both a pre- and post-tax basis.
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